Funding seems to be done quickly too and only gets slowed down by bank clearing. At OANDA you can trade 14 of the world’s major stock market indices. All of the usual major US and European indices are available, in addition to Asian indices from China, Hong Kong, Singapore, India, and Taiwan. N.B. CFDs and precious metals are not available to traders in the US. If you are a trader residing in jurisdictions like Australia and Singapore, there is an added benefit of having Guaranteed Stop-Loss Orders.
- Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker.
- The OANDA Trade web-based platform is well-designed and easy to navigate.
- Margin trading allows you to leverage the funds in your account to generate larger profits by depositing just a fraction of the total value of your trade.
- A trusted global brand, OANDA stands out for its reputation and quality market research.
Swing Trading: Acceptable Choice
OANDA offers the MetaTrader 4 for desktops, which includes advanced functions such as automated trading. There are no alerts and 1-click trading on the OANDA web platform, but they are available on the OANDA mobile app. The OANDA Trade web-based platform is well-designed and easy to navigate. It is also customizable, allowing you to change the layout to suit your preference. Multiple chart layouts are available, and traders can view up to 8 charts simultaneously.
The OANDA website education section is divided into sections that provide in-depth guides to the basics of CFD trading and market analysis. In the Market Insights podcast, senior market analysts provide in-depth insights into the major economic trends and events that impact the markets. The MarketPulse website has an in-depth global economic calendar detailing event volatility, the actual figure, analyst consensus, and the prior figure. You can customize the calendar to your preference based on countries, indicator categories, and volatility levels.
Spread Betting Account
The content covers essential topics such as leveraged trading, technical and fundamental analysis, indicators, oscillators, and risk management. OANDA Labs offers a wide array of resources which are presented in a user-friendly format. OANDA offers a range of trading platforms, including MetaTrader 4, MetaTrader 5 (not available in the US), and TradingView, which are available on both desktop and mobile.
- Especially when news releases have a large impact on market volatility.
- There is no minimum balance or deposit amount needed to activate a live account at OANDA.
- Customer support responded slowly, often taking several days to explain why his deposits weren’t approved, which could be an issue for US traders facing a tedious sign-up process.
- If you withdraw in a currency other than your base account currency, you will additionally incur a 0.5% fee for currency conversion.
Spreads and Commissions
The takeover by leading private equity firm, CVC Capital Partners in 2018 now means that the OANDA brand name continues to grow both organically and through acquisition. Boasting a robust history of over 25 years, it has achieved significant growth, establishing itself as a pioneer in the industry. Traders looking for brokers with accurate precision, OANDA can be an option. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Take advantage of supercharged charting tools, join the largest financial community on the web, and more. These guides are well-crafted and help new traders build a solid foundation of market-related knowledge.
Regulation tiers
He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. OANDA provides forex and CFD traders everything they need to successfully navigate the markets, with multiple daily articles, as well as podcasts and research tools.
OANDA UK supports transfers to credit and debit cards and local and global bank accounts for withdrawals. While testing the OANDA mobile app, I liked the price alert notifications, which trigger when the market reaches a price you set. This is a great feature as it can alert you when a new trading idea you’ve prepared is ready to review, so you’re not watching the charts all day. What stood out to me is the Depth of Market (DoM) pricing this platform has for the EUR/USD pair.
OANDA offers easy withdrawals via Visa/Debit or Debit/Mastercard, bank transfers. PayPal, Skrill, and Neteller (region-specific not available in the US). Processing times range from one to oanda broker three business days for cards and domestic transfers, and up to five days for international transfers.
FX trading
To use the Premium account you will need an initial deposit of $100,000 or trade a minimum of US$200 million in 3 months. Naturally for this increased requirement, you get all the same benefits as the Premium account plus a few other benefits. While both entities fall under the OANDA Corporation umbrella, there are some differences to note. Just click the “Open trading account” button, confirm your country, and fill in details like personal info and ID verification. It is regulated by top-tier authorities like the CFTC and NFA in the U.S., has over 25 years of experience, and maintains a high Trust Score of 98/99.
Based on our analysis, OANDA Corporation remains largely consistent with its publicly posted historical Standard Account Spreads. Our testing shows that the Spread Only account averages 1.54 pips, which works out to USD 14.36 per trade. That means you only need the market to rise (or fall) by USD 14.36 before you begin generating a profit. OANDA has headquarters in United States, United Kingdom, Japan, British Virgin Islands, Malta, Singapore and Australia. OANDA provides their Forex/CFD trading services to over 4 million clients.
For card payments, OANDA offers one free withdrawal to your credit or debit card per calendar month. For OANDA UK, you can deposit using supported credit and debit cards, CHAPS wire transfer, SWIFT wire, SEPA credit transfer (SCT), or GBP-only Internet banking via faster payments. Although OANDA doesn’t charge deposit fees, your respective financial providers may charge your bank account for making the transfer. I also found the broker offered a decent selection of markets, with 19 indices, 10 commodities, 21 metals, and six bonds covering every major market with a single OANDA account. The OANDA Trade is another good option, this platform includes range of personalized, intuitive chart types with 100+ different indicators, risk management and strategy instruments. One of the tools that stood out for me was the Mini Terminal EA, which allowed me to automatically append stop loss and take loss orders to my instant trades.
But I wonder why they don’t have fixed spread for indices, since other broker use fixed spread. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.
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